Chase River, Nanaimo - August 2026 Real Estate Report

Chase River, Nanaimo: Your Home Is Worth Less Than the City Thinks - And That Actually Matters

If you have been watching the "For Sale" signs on your street and wondering what is really going on, here is the straight answer. Chase River is a neighbourhood where the numbers tell two very different stories depending on which number you look at. The city's assessment says one thing. The real world says another. Let's talk about what that gap means for your wallet.

The Vibe: Houses vs. Condos in Chase River

For houses, we are seeing something interesting right now. Sales are happening fast - properties are averaging just 20 days on market, which ranks 2nd out of 17 neighbourhoods in Nanaimo for speed. That is genuinely quick. The average sale price hit $912,500 this month, up 11.9% from last month, and sellers are getting 99.34% of their asking price. Listings are sitting at $919,000 on average, with a price per square foot around $525.

That said, the HonestDoor predicted value for houses sits at $706,505, which is actually dipping slightly below the 3-month moving average of $711,699. So while sale prices look strong on the surface, the underlying trend is worth watching. On the neighbourhood leaderboard, Chase River houses rank 12 out of 19 for growth - that puts us in the below-average tier for Nanaimo. Not alarming, but not something to ignore either.

• Average house sale price this month: $912,500 (up 11.9% from last month)
• Average list price: $919,000
• Price per square foot: $525
• Average days on market: 20 (ranks 2nd fastest in Nanaimo)
• Sale-to-list ratio: 99.34%
• Properties sold this month: 2
• Estimated rent: $3,208 per month
• Rental yield: 5.22%
• Growth rank: 12 out of 19 neighbourhoods

For condos, we need to be honest - this segment is taking a breather. The HonestDoor Price for condos is $487,040, up just 0.20% from the previous period. The predicted value of $486,078 is sliding below the 3-month moving average of $495,356, and recent values have shifted by -5.32%. On the neighbourhood leaderboard, Chase River condos rank 17 out of 18 for growth. That is bottom-of-the-pack territory in Nanaimo right now. Rental yield comes in at 3.86%, which is moderate but not a standout number.

• Average condo HonestDoor Price: $487,040
• 3-month moving average: $495,356
• Recent value change: -5.32%
• Estimated rent: $2,413 per month
• Rental yield: 3.86%
• Growth rank: 17 out of 18 neighbourhoods

The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Counts

Here is the thing about your city assessment. It is a snapshot from the past. The average assessed value in Chase River sits at $823,382 for houses. The average HonestDoor Price is $712,873. That is a gap of 13.42% - meaning the city currently thinks your home is worth significantly more than what the real-world market is reflecting right now.

Why does that matter? Because if you are making any financial decision - refinancing, selling, buying out a partner, or just figuring out your net worth - using a stale government number can send you in the wrong direction. The HonestDoor Price updates in real time using actual transaction data. It is not waiting for the annual assessment cycle to catch up. With 1,578 properties assessed in Chase River and 20 transactions recorded in 2026, there is enough data moving through this neighbourhood to get a genuinely current read on where values stand.

Think of the HonestDoor Price as your real-world check. The assessment is what the government filed. The HonestDoor Price is what a buyer would actually put on paper today.

The "So What?": Thinking About Selling This Summer?

If you own a house in Chase River and you are thinking about listing this summer, the timing has some things going for it. Homes are moving in 20 days on average, buyers are paying close to full ask, and the price-per-square-foot benchmark of $525 gives you a solid starting point for a conversation with your agent. Chase River also ranks 7th in Nanaimo for total transactions and 7th for average assessed value - that tells us this is an active, mid-to-upper tier neighbourhood that buyers are paying attention to.

The caution flag is the gap between assessed value and the HonestDoor Price. If you price based on the city's $823,382 figure, you may be setting expectations that the market will not support. The HonestDoor Price of $712,873 is the more grounded starting point for your pricing strategy.

If you own a condo, summer 2025 calls for patience. With a growth rank of 17 out of 18 and values trending downward over the past few months, rushing to list right now means competing in a segment that is not moving in sellers' favour. Watching the 3-month trend over the next quarter before committing to a list date is the smarter play.

For anyone keeping an eye on nearby options - Five Acres is priced similarly to Chase River houses at $706,935 with slightly faster growth, and Duke Point is in a different price league entirely at $1,127,435. Chase River sits in a comfortable middle ground, which is exactly why it keeps showing up on buyers' shortlists.

Bottom line: Chase River is not a neighbourhood in trouble. It is a neighbourhood where knowing your real numbers - not the city's numbers - puts you in control of the conversation.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.